Sound Point Meridian Capital, Inc. (SPMC) To Go Ex-Dividend on November 13th

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Wednesday, August 12th. Shareholders of record on Friday, November 13th will be given a dividend of $0.13 per share on Monday, November 30th. This represents a $1.56 annualized dividend and a dividend yield of 27.1%. The ex-dividend date of this dividend is Friday, November 13th.

Sound Point Meridian Capital Price Performance

Shares of SPMC opened at $5.76 on Wednesday. The firm’s 50 day simple moving average is $7.72 and its 200 day simple moving average is $9.78. The company has a market capitalization of $118.18 million, a P/E ratio of 3.65 and a beta of 1.39. Sound Point Meridian Capital has a 1-year low of $5.43 and a 1-year high of $16.75.

Sound Point Meridian Capital (NYSE:SPMC) last issued its quarterly earnings results on Wednesday, August 12th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). The business had revenue of $12.42 million for the quarter, compared to analyst estimates of $14.18 million. On average, equities analysts anticipate that Sound Point Meridian Capital will post 1.11 earnings per share for the current year.

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital, Inc. (NYSE: SPMC) is a closed-end investment company focused on investing in collateralized loan obligations (CLOs). The company primarily seeks exposure to CLO equity and junior debt tranches, which are backed by pools of senior secured loans made to corporate borrowers. Sound Point Meridian Capital is externally managed by an affiliate of Sound Point Capital Management, an alternative investment manager. Its investment strategy is designed to provide shareholders with income and potential capital appreciation through a diversified portfolio of CLO investments rather than through the direct operation of businesses or the sale of consumer products and services.